French call-center operator Teleperformance announced that it has completed its acquisition of LanguageLine Solutions LLC from private equity firm Abry Partners. The deal, announced on August 22, 2016, has been approved by regulatory authorities, Teleperformance said. LanguageLine is an America over-the-phone and video interpretation solutions provider. Abry Partners had acquired LanguageLine in 2004 for USD720m. Teleperformance said that the acquisition will be fully financed through a debt financing provided by Credit Agricole, HSBC and Societe Generale. The acquisition is Teleperformance’s first foray into the language services industry. Teleperformance operates 147,000 computerized workstations, with close to 190,000 employees around the world. It also operates contact centers in the Philippines.
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